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What happened across the Asia session?<\/b><\/p>\n
During the session, the Tokyo Core CPI y\/y remained unchanged at 3.3%, while the Unemployment Rate slightly increased from 2.4% to 2.5%. Additionally, the Caixin Services PMI for China rose to 55.0 from the previous month’s 54.3.<\/span><\/p>\n What does it mean for Europe and US Sessions?<\/b><\/p>\n Major oil exporter Canada is likely to outshine major counterparts before the release of the key US ISM Services PMI, backed by bullish oil demand perceived from upbeat Chinese data and relatively positive Canadian data expectations.<\/span> Key news events today<\/b><\/p>\n ISM Services PMI\u00c2\u00a0<\/span><\/p>\n What can we expect from DXY today?<\/b><\/p>\n Forecasted data of 54.5 for US ISM Services PMI data indicates a slight decline from the previous 55.2. Actual data meeting\/exceeding forecast can positively impact USD while falling short can lead to a negative impact.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/span><\/p>\n Gold (XAU)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from Gold today?<\/b><\/p>\n The stubbornly high inflation in the Eurozone could increase the demand for gold as a hedge against price increases. This may lead to a rise in the price of gold.<\/span><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bullish<\/span><\/p>\n The Euro (EUR)<\/b><\/p>\n Key news events today<\/b><\/p>\n Final Services PMI<\/span><\/p>\n What can we expect from EUR today?<\/b><\/p>\n Eurozone’s Final Services PMI for the upcoming release is forecasted to remain at 53.0, which indicates steady growth. Deviation from the forecast could cause volatility in the EUR.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n <\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/span><\/p>\n The Swiss Franc (CHF)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from CHF today?<\/b><\/p>\n As there is no major news event for the CHF today, the price direction will likely be influenced by previously released data. In this case, the Retail Sales y\/y (actual -2.2%, previous -3.0%) and the Manufacturing (actual 48.9, previous 49.3).<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/span><\/p>\n The Pound (GBP)<\/b><\/p>\n Key news events today<\/b><\/p>\n Final Services PMI<\/span><\/p>\n What can we expect from GBP today?<\/b><\/p>\n The United Kingdom\u00e2\u20ac\u2122s Final Services PMI is forecasted at 53.3, the same as the previous reading, indicating stability. GBP may fluctuate based on actual data, with a higher reading strengthening it and a lower one weakening it.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/b><\/p>\n The Canadian Dollar (CAD)<\/b><\/p>\n Key news events today<\/b><\/p>\n Building Permits m\/m<\/span><\/p>\n Labour Productivity q\/q<\/span><\/p>\n What can we expect from CAD today?<\/b><\/p>\n The Building Permits m\/m and Labour Productivity q\/q are expected at +1.7% and +0.2%. Previous figures were -7.3% and +0.6%, respectively. The forecasted increase in both indicators may positively impact CAD, indicating growth in the construction industry and economy.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bullish<\/span><\/p>\n Oil<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from Oil today?<\/b><\/p>\n China’s Caixin Services PMI rose to 55.0 in Feb 2023, beating the forecasted 52.9 and up from the previous month’s 54.3. The rise indicates potential increased demand for oil in China.<\/span><\/p>\n Next 24 Hours Bias<\/span><\/p>\n Bullish<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" What happened across the Asia session? During the session, the […]<\/p>\n","protected":false},"author":8,"featured_media":56102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215],"tags":[],"class_list":["post-57098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=57098"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57098\/revisions"}],"predecessor-version":[{"id":57105,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57098\/revisions\/57105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/56102"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=57098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n<\/span>The Dollar Index (DXY) Update<\/b><\/p>\n\n
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